Best Practices for Keeping Financial Information More Secure

Best Practices for Keeping Financial Information More Secure

Data security should be a primary concern for all businesses and there are certain best practices businesses, particularly those in financial services, can and should follow to keep financial information and electronic transactions secure. Businesses must plan carefully to ensure complete security for themselves and their customers.

Conduct a Risk Assessment

A risk assessment will help identify the information that needs to be protected.

Develop a Written Policy

With the help of your IT partner, develop a written policy regarding security, acceptable use, passwords, social media, etc. The plan should be properly implemented and tested.

Train Employees

Employees must be trained on the latest cyber security threats and techniques for protecting data. Ensure all users completely understand how to employ proper security.

Operating System

Begin each transaction with a fresh operating system and fresh browser window. Have only one window open when conducting financial transactions, do not conduct an internet search for your bank and remember to completely log out and close the browser window when the transaction is complete.

If resources require you to use the same system for banking and other uses like Internet surfing and email, do not click on links in emails and disable HTML in email.

Keep the operating system up-to-date with the most current patching and anti-virus software.

Due Diligence 

Security is not a set-and-forget task, it requires continual monitoring to keep up with the latest cyber security threats. Businesses must keep on top of current threats, particularly industry-specific threats. They must also have a system in place to know when security has been compromised and have a plan for dealing with security breaches.

ACE IT Solutions’ Managed Security Services, offered in partnership with IBM, provide a simple and cost-effective way to limit potential threats 24×7. Through our partnership with IBM, ACE IT Solutions leverages one of the world’s largest collections of security information to combine advanced analytic capabilities into cloud-based security services that can be mixed and matched according to specific needs. Contact us at 646-558-5575 or  to schedule a free security consultation.